Halifax’s Snorble has raised US$10 million or C$12.3 million from a single investor, New Jersey-based GK Venture Partners, valuing the company at US$40 million or C$50.1 million.
The deal, which CEO Mike Rizkalla said in an interview is effectively Snorble’s Series A funding round, comes on the heels of a $2 million raise that closed in January. GK is Snorble’s second institutional investor after consumer tech venture capital fund Legendary Ventures.
Rizkalla’s brainchild, Snorble is a robot that children are meant to experience as a toy, but which actually uses artificial intelligence,